Picked up a used GF1 from Uwe today. I have known Uwe for years from buying/selling on Craigslist. He's a super nice guy who also enjoy old, manual focus lenses.
Now, I really do not need the GF1. It's just more evidence that I am a real incurable gears addict. Part of the reason was that my son Ryan has been nagging me to get a camera that can do HD movie, since I no longer have the T2i or the 7D. Another reason was that I want to see if it can replace my G1, so that I don't have to carry a larger camera. The answer is probably a "No".
It's awkward to hold the GF1, especially if you have larger/long lenses. This a camera not suitable for manual focus lenses, unless you put it on tripod. The high-res viewfinder and articulated LCD screen on the G1 is much much better for this purpose. The major strength I see with this camera, is to use with pancake lenses, especially the 20mm f1.7, which unfortunately I do not have.
The movie is quite respectable. Very high quality video and the continuous focusing in video is a real plus. The speed of focus is a magnitude faster than the T2i/7D, even with the slow kit lens in dim light. I think I will use this camera more for video clips than taking pictures.
The image quality is similar to the G1 -- very good in low ISO but falls apart after ISO 400. I will use ISO 800 in emergency, but anything higher than that is too noisy.
Overall, it's a nice little camera that needs some nice small AF pancakes.